Markets end weekly series on a positive note

Nifty and Bank Nifty futures witnessed short covering as the underlying prices trended higher along with a decline in the open positions.

Jul 11, 2019 10:07 IST India Infoline News Service

Stock Market Up
Indian equity markets closed on a positive note ending the four-day losing streak.

Major indices such as Nifty, Bank Nifty, & Nifty Midcap 100 gained ~0.5%. Nifty Auto & Nifty PSU Bank indices were among the top outperformers closing ~2% higher today.

Shares of Zee Enterprises and Dish TV rallied in the closing part of the trade, ending ~7%/16% higher on account of short covering.

The market breadth ended in favor of advances with the advance/decline ratio at 1:1x.

Nifty and Bank Nifty futures witnessed short covering as the underlying prices trended higher along with a decline in the open positions.

On the options front (July 18, 2019 expiry), across-the-board short selling was seen in Nifty out-of-the-money call & put option strikes, making 11,700 as an immediate ceiling level and 11,500 as a floor level for the weekly series.

India Vix closed at 12.5, down 8.6%.
 
Top 2 F&O Gainers: DISH TV & RELIANCE INFRA
Top 2 F&O Losers:  INDIGO & BSOFT
Nifty  +84 @11,583
Bank Nifty +195 @30,717

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